Rhino Investment Partners Inc Has $26.19 Million Stock Holdings in Popular, Inc. (NASDAQ:BPOP)

Rhino Investment Partners Inc reduced its stake in shares of Popular, Inc. (NASDAQ:BPOP - Free Report) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 278,431 shares of the bank's stock after selling 56,449 shares during the quarter. Popular comprises 5.8% of Rhino Investment Partners Inc's portfolio, making the stock its biggest position. Rhino Investment Partners Inc owned 0.39% of Popular worth $26,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Voleon Capital Management LP acquired a new position in Popular during the 4th quarter worth approximately $977,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Popular by 73.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 28,521 shares of the bank's stock worth $2,683,000 after acquiring an additional 12,107 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Popular by 2.7% during the 4th quarter. AQR Capital Management LLC now owns 937,274 shares of the bank's stock valued at $88,160,000 after purchasing an additional 24,842 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Popular by 13.3% in the fourth quarter. Northern Trust Corp now owns 535,540 shares of the bank's stock valued at $50,373,000 after purchasing an additional 63,019 shares during the last quarter. Finally, Oxford Asset Management LLP bought a new position in shares of Popular in the fourth quarter valued at about $261,000. 87.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BPOP shares. Barclays restated an "overweight" rating and set a $125.00 price objective (up previously from $115.00) on shares of Popular in a report on Thursday, April 24th. Royal Bank of Canada lifted their price objective on Popular from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Hovde Group decreased their price target on Popular from $118.00 to $114.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price on Popular from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, StockNews.com lowered shares of Popular from a "buy" rating to a "hold" rating in a report on Friday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $111.14.

Popular Stock Down 0.5 %

Shares of BPOP stock traded down $0.51 during trading hours on Tuesday, hitting $98.97. 258,544 shares of the company's stock traded hands, compared to its average volume of 489,752. The stock has a market cap of $6.86 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.75 and a beta of 0.60. The stock's 50 day simple moving average is $90.57 and its 200 day simple moving average is $95.08. Popular, Inc. has a 12 month low of $78.23 and a 12 month high of $106.81.

Popular (NASDAQ:BPOP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.30. Popular had a return on equity of 11.89% and a net margin of 14.15%. The business had revenue of $755.46 million during the quarter, compared to analyst estimates of $760.45 million. During the same period last year, the company earned $1.43 EPS. Popular's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Popular, Inc. will post 10.06 EPS for the current fiscal year.

Popular Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, March 18th. Popular's dividend payout ratio is presently 28.90%.

Insider Transactions at Popular

In related news, EVP Gilberto Monzon sold 9,600 shares of Popular stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $102.57, for a total transaction of $984,672.00. Following the completion of the transaction, the executive vice president now owns 39,170 shares of the company's stock, valued at $4,017,666.90. This trade represents a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.09% of the company's stock.

Popular Company Profile

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit.